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Mass affluent market dosen&#39t exist says comdirect

The financial services industry has acted recklessly by trying to create the mass affluent market, according to comdirect.

According to a public opinion poll commissioned by the German online stockbroker more than one in two Britons has no idea what the term mass affluent means.

It argues the move by many financial service companies to launch wealth management services for the mass affluent earning over £50,000 a year has misjudged the market place and does not offer customers value for money.

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Deco Capital – Boadicea Fund

Wednesday, 10 October 2001.Type: Hedge fund.Aim: Growth by investing in European equities, bonds, futures and options, cash.Minimum investment: $100,000, euros100,000.Place of registration: Cayman Islands.Investment split: 90 per cent European equities, 10 per cent bonds, futures and options, cash.Isa link: No.Charges: Annual 1.5 per cent.Commission: Subject to negotiation.Tel: 020 7648 4347.

Baillie Gifford appoints South East sales head

Baillie Gifford has appointed Nigel Cathcart as regional sales manager responsible for intermediary relationships for London and the south east.He joins Baillie Gifford from Dresdner RCM where he was regional sales manager for the south east responsible for dealing with larger IFAs, discretionary managers, stock brokers and institutions. He has 14 years experience in retail […]

Paul Johnston

Lives: Rochester, Kent.Born: June 17, 1965, Chelmsford.Age: 36Education: Great Baddow High School.Career to date: Management trainee with John Lewis, Next and Marks & Spencer until 1989; working in a recruitment consultancy between 1989 and 1991; joined Bupa as a consultant in 1991; joined Aon as a senior healthcare consultant in 1994; eventually became managing director […]

Balfour quits EFM after row over firm&#39s future

Edinburgh Fund Managers chief investment officer Mike Balfour has quit the firm after 16 years following a reported dispute with chief executive Iain Watt.The dispute is thought to have centred on EFM&#39s future, with Balfour reported to be keen on a takeover and Watt wanting to retain independence.Balfour, who also managed EFM&#39s flagship £1.5bn Edinburgh […]

Tax avoidance (the fight goes on)

In recent times, we have witnessed high-profile celebrities and sports stars make the headlines for potential tax liabilities on ‘failed’ tax avoidance schemes. We are now used to reading about these individuals, but what about those who advise on such schemes? Read more

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